The choice is made, a new milestone for the Enecuum Network.
Thank you to everyone who participated in the vote regarding changes to the ENQ tokenomics. The community chose the option to maintain the current ENQ emission and introduce the TDAO token for transitioning to a decentralized protocol governance model.
Unfortunately, not all holders participated, and many didn’t even receive tokens for voting as they didn’t move their ENQ from exchange wallets. As a result, the voting process was quite dramatic, and the voting results remained unpredictable until the last minutes of the vote.
Thanks to everyone who actively advocated for their positions in open discussions, providing reasons for their choice between the two options.
Enecuum Network.
ENQ:
- Maintains the current emission model.
- Retains all utilities except one — Governance.
Development plan:
At first we want to finish tasks, required for full decentralization of the protocol. This includes following steps:
- PoS leader election protocol release
a) Emergency elections protocol
b) Add light sync option - PoW release updated to PoS election protocol
- POA update
a) Enable PoA connections to PoS nodes
b) Enable Bootnode and PoS discovery for PoA
c) PoS & PoW custom mining tokens validation update
Delivery ASAP
TDAO
Considering the tense atmosphere of the last vote, primarily due to a rushed proposal that wasn’t discussed with the community, we present the initial proposal of the TDAO model for community consideration and feedback.
TDAO is a governance token for managing the Enecuum Network protocol and the TDAO treasury.
Technical Parameters of Enecuum Network for Changes through Voting:
- Network fee adjustments.
- Reward distribution changes among nodes.
- Minimum staking amount for PoS nodes.
- Minimum staking amount for PoA nodes.
- Unlocking time for PoS delegators.
- Other network parameters.
Governance Model.
Any community member can suggest changes to network parameters or propose innovations. To do this, one needs to post the proposal on the Reddit portal and gain support from community members. After discussion within the community, a vote will be held on the enex.space portal. TDAO token holders can participate in the vote. The accepted option will be implemented by the team or community members.
TDAO Distribution Model and Treasury.
The TDAO token will have a fixed emission. TDAO tokens will be released on the Enecuum Network and accessible on other EVM networks through the SPACE BRIDGE. The emission size is yet to be determined. Below, we’ll consider the distribution model in relative figures.
Total Emission: 100% (100 TDAO)
Retrodrop to ENQ Holders: 30% (20 TDAO)
TDAO to Donors: 30% (40 TDAO)
TDAO Treasury: 40% (40 TDAO)
- 30% will be distributed among ENQ holders proportionally to their balances at the snapshot moment.
- 40% will be held in a multisig contract on one of the EVM networks.
- 30% will be distributed between donors within 12 (24) months also by multisig.
Number of Multisig Signers: 6.
Community Representatives: 3.
Team: 3.
Minimum Signatures Required: 4.
TDAO tokens held in the multisig balance will be used for development, marketing, liquidity, and other purposes.
The TDAO multisig will also receive donations in ETH for further Enecuum Network development.
The protocol and ecosystem development roadmap will be presented soon.
